{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{4}{c}}
\hline\hline
            &\multicolumn{1}{c}{SPPE}&\multicolumn{1}{c}{SPPE}&\multicolumn{1}{c}{Aquisition}&\multicolumn{1}{c}{Aquisition}\\
            &        b/se   &        b/se   &        b/se   &        b/se   \\
\hline
Cash Holding&      -0.468***&      -0.359***&       0.387***&       0.259** \\
            &     (0.079)   &     (0.097)   &     (0.091)   &     (0.099)   \\
Sales       &       0.036   &      -0.113   &       0.013   &       0.256   \\
            &     (0.071)   &     (0.070)   &     (0.138)   &     (0.158)   \\
Log Asset   &      -0.391***&      -0.042   &      -0.165*  &      -0.408***\\
            &     (0.070)   &     (0.076)   &     (0.084)   &     (0.082)   \\
Leverage    &      -0.021   &      -0.135   &      -0.240** &      -0.157   \\
            &     (0.107)   &     (0.140)   &     (0.115)   &     (0.127)   \\
L.lratio\_l  &       0.003   &       0.015***&       0.012   &       0.004   \\
            &     (0.007)   &     (0.004)   &     (0.014)   &     (0.019)   \\
Capital Expenses&       0.781***&       0.370***&      -0.590***&      -0.190   \\
            &     (0.129)   &     (0.115)   &     (0.110)   &     (0.124)   \\
\hline
r2\_a        &       0.194   &       0.304   &       0.063   &       0.249   \\
N           &    2297.000   &    2297.000   &    2054.000   &    2054.000   \\
\hline\hline
\multicolumn{5}{l}{\footnotesize Robust standard errors are in brackets and are clustered at firm level.}\\
\multicolumn{5}{l}{\footnotesize * p<0.10, ** p<0.05, *** p<0.01}\\
\end{tabular}
}
